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Maybe you could be more specific as to what you're looking for in this journal. Your first post was pretty general. Are you interested in exploring S/R? Ways of determining when to bail out ahead of the target? Ways to avoid a full SO? As to reversals, the primary difficulty is that there's...

That answers the question. Thanks for the clarification.

Your answer doesn't address my question, but I must not have made myself clear. Perhaps you could explain the trade, i.e., which drop through 63.75 you took, what your stop was, how long you held until the target was reached.

I'm afraid you've lost me on this one. If you were using the bar at 2:15 to give you the entry at 63.75, you would have entered well before the open and been SO shortly after the open. Only if you took the trade at 9 (CST) or thereabouts would you have reached your target.

People often underestimate the importance of being familiar with whatever strategy it is they're trying to employ. Honing becomes tweaking becomes fiddling and before you know it, you're in the weeds.

I use volume bars, a tick chart (i.e., the movement of this particular price in ticks) and a TICKQ chart (which is the movement of all stocks in the index). One of the volume bar charts is OHLC and the other is candles. However, the candle chart serves only to "filter" out the tails, which...

TICK is pretty standard. I'm sure e-signal has it. TICK, TICKQ, and TIKI. I should point out again, though, that you will want to switch over to tick charts once you're in the trade to see how price reacts to certain levels in real time. Even a 1m chart may not give you what you need in order...

Here's another that presents a somewhat different scenario, but with the same theme. Note that everything is fine until price begins to leave 18. After that point, the TICKQ doesn't even attempt to keep up. This makes the probability of success of each new thrust upward that much lower. In...

Let me give you an illustrated example. The subject of the example -- in this case the NQ -- isn't important. In this case, the target was 25.5, and everything was fine when price hit 22. But when price rose to 22.5, the TICKQ didn't go along for the ride. Here I'd raise my stop to at least...

It's done neither quickly nor slowly, at least by the trader. Price and the TICK move however quickly or slowly they're going to move. You just watch. If your target is 10 and price hits 9.5, retraces, then hits 9.5 again, but the second time the TICK makes a lower low or collapses, then you act...

There are a number of suggestions I could make, but threads like this are easily derailed. But since you've asked about taking profits at hesitations and bailing out of what turn out to be reversals, I will make one small suggestion that might enable you to use data rather than an indicator...

You'd probably enjoy Larry Phillips' book, Zen and the Art of Poker, in which he writes about using inaction as a weapon, i.e., actively choosing NOT to take a trade. More to it than that, of course, and others have touched on the same concept (Rogers, Livermore, etc), but trying to cover it...

4re, You might like to have this: So many of my consulting clients are entrepreneurs who have capital to trade with because they worked their tails off in another business. They take that strong work ethic and need to feel busy into the markets and get whacked. I have helped many of them...

That's why I said that was the case today. The first level of R was at 1268. But the second was at 1271. So if it didn't barrel through 1270-71, better just to take the 2pts and be glad.

There's a third option of moving to BE in the event that the target isn't reached. Waiting to be SO can be a trap, as you know by now, much less hanging on.

Yes, that was the case today. If you didn't take the 2pts quickly, you'd be screwed.

Do you use something to help you judge momentum such as the TICK? Or do you use your feeling for the pace of orders as they reach and -- perhaps -- break thru S/R? And if I understand your posts, you're not taking S or R per se, but waiting for them to be broken by so many ticks (you needn't...

If he uses a 2pt stop, he would have stayed in anyway, but it sounds like the trading gods were smiling on both of you this morning, at least as far as the longs.

That's strange. Price spent eight minutes passing back and forth through 1268 before moving on to 1270. Why do you suppose it took so long to get filled?

Why not take the attempt at 0840 (I assume you're referring to CST)?